Teachers Retirement System of The State of Kentucky Purchases Shares of 38,006 Sandisk Corporation $SNDK

Teachers Retirement System of The State of Kentucky bought a new position in Sandisk Corporation (NASDAQ:SNDK) in the third quarter, Holdings Channel reports. The firm bought 38,006 shares of the data storage provider’s stock, valued at approximately $4,264,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in shares of Sandisk during the third quarter worth $1,970,388,000. Victory Capital Management Inc. purchased a new position in Sandisk in the 3rd quarter worth $120,363,000. Parnassus Investments LLC purchased a new position in Sandisk in the 3rd quarter worth $103,815,000. DNB Asset Management AS acquired a new stake in Sandisk during the 3rd quarter worth about $94,540,000. Finally, Principal Financial Group Inc. purchased a new stake in Sandisk during the 3rd quarter valued at about $74,265,000.

Insiders Place Their Bets

In related news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the sale, the director owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SNDK. Susquehanna upped their target price on Sandisk from $250.00 to $300.00 and gave the company a “positive” rating in a research report on Monday, December 8th. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. The Goldman Sachs Group increased their price objective on shares of Sandisk from $320.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Cantor Fitzgerald raised their target price on shares of Sandisk from $550.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Raymond James Financial upgraded shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 target price for the company in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.85.

Sandisk Stock Performance

NASDAQ SNDK opened at $599.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The stock’s 50 day simple moving average is $491.04 and its 200-day simple moving average is $271.99. The company has a market cap of $88.42 billion and a PE ratio of -78.93. Sandisk Corporation has a 1-year low of $27.89 and a 1-year high of $725.00.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating the consensus estimate of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.67 billion. The firm’s quarterly revenue was up 61.2% on a year-over-year basis.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.